SME promotion / Tax Compliance

This department operates under the Approved Management Center (AMC).

The running of AMCs in Cameroon is governed by Decree N° 2000/002/PM of January 06, 2000, which organizes the activities of Approved Management Centers and sets out the tax benefits accruing to members, as amended and supplemented by Decree N° 2007/0456/PM of March 29, 2007 and subsequent amendments.

According to this decree, AMC membership is reserved for Very Small Enterprises (VSEs) and SMEs within the AMC threshold.

AMCs are created by a decree of the Minister of Finance. AMC WAFO & PARTNERS was created by Ministerial Order N° 00000123/MINFI/DGI/LRL/CSR of March 01, 2022.

An AMC is a strategic partner of the tax administration. The Director General of Taxation through Circular No. 012/MINFI/DGI/LRI/L of July 13, 2022, made the AMC a privileged auxiliary between taxpayers and the tax administration. It thus becomes the incubator of good managerial practices and tax compliance.

AMC Membership has the following Advantages

The Cameroonian legislator has enacted a number of incentives measures reserved exclusively for taxpayers who are AMC members. These include the following tax benefits:

A 50% reduction in annual corporate taxes provided the tax due is not less than the minimum company tax
Exoneration from the payment of business license (patents) for the second year following incorporation
Application of good faith fines during tax audits covering periods post membership to AMC, to know, at a rate of 30%
A 50% reduction in the principal amount for which advance tax payment on purchases is calculated for those involved in distribution in the Brewery Industry
VAT exemption on all services rendered by the AMC
Automatic reduction of 50% on the amount of fines and late payment interests after a contentious jusrisdiction appeal .
Exemption from income tax and employers’ contributions on salaries paid to young Cameroonian graduates under the age of 35 with the exception of social insurance contributions as part of an unspecified or fixed-term contract for a first job or probation.

Tax benefits for members of innovative ICT start-ups

In the incubation phase, which may not exceed five (05) years:

Exemption from all taxes, duties and levies except social security contributions.

Upon exit from incubation (for a period of five (05) years) :

If the start-up is sold :

Capital gain tax at 10% on capital gains;

Upon entry into the operating phase (for a period of five (05) years) :

exemption from patente tax; exemption from registration duties on deeds of creation, extension or increase of capital; exemption from all taxes and employer liability on salaries paid to their employees, with the exception of social security contributions;
application of a reduced corporate income tax rate of 15%;
application of a deduction of 50% on the base for calculating the advance minimum corporate income tax;
income tax credit of 30% of research and innovation expenses, up to a ceiling of one hundred (100) million CFA francs;
application of a reduced capital gains tax rate of 5% on dividends paid to shareholders and interest paid to investors.

Beyond the fifth year:

common or ordinary tax system.

AMC Services Include

Pre-formation legal and tax advice
Business formation advisory
Legal advisory
Consulting and financial engineering
Bookkeeping and accounting
Tax monitoring
Tax and social insurance returns filing
Preparation and filing of annual financial statements (DSF)
Assistance and representation during tax audits and contentious jurisdictions
Any other solicited services.

Special Missions

Training

Tax & Legal

Are you ready to engage us in your activity?

The foundation of every process is a crucial determinant of its eventual fruition, reliability and durability. Working with us is “a stitch in time”; – a form of insurance!

SME promotion / Tax Compliance

AMC Membership has the following Advantages

Tax benefits for members of innovative ICT start-ups

AMC Services Include

Special Missions

Training

Tax & Legal

Are you ready to engage us in your activity?

SFAI Cameroon

Contact

Quick Links

Useful Links

Business Hours